According to the latest report by IMARC Group, titled “Biscuits Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global biscuits market size reached US$ 117.5 Billion in 2022. Biscuits are flour-based baked products made using flour, butter, buttermilk, milk, baking soda, baking powder, eggs, and other ingredients. They are generally unleavened, hard and flat with a sweet or savory flavor. Sweet biscuits have a layer of crème, custard, chocolate, or jam filling; however, savory biscuits taste like crackers. Nowadays, biscuits are widely consumed by individuals of all age groups across the globe as a convenient and healthy snacking option.
Global Biscuits Market Trends:
The market is primarily driven by the growing awareness among individuals regarding the health benefits of biscuits. For instance, the ingredients used in biscuits are a rich source of essential nutrients, including fiber, carbohydrates, and fats. In addition, the shifting consumer preferences toward healthy snacking options represents another major growth-inducing factor. Besides this, the market is further propelled by the introduction of various innovative product variants such as low-calorie, sugar-free, oat-based, nut-based, and high-fiber biscuits. Moreover, key players are making huge investments in aggressive promotional activities to expand their customer base and gain a competitive edge. This, coupled with the increasing consumption of bakery products due to hectic lifestyles, rising disposable incomes, and changing dietary habits of individuals, are positively influencing the market growth. Furthermore, rapid urbanization, technological advancements, and easy product availability through online and offline retail channels are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 159.2 Billion by 2028, exhibiting a CAGR of 4.9% during the forecast period (2023-2028).
- Based on the product type, the market has been bifurcated into crackers and savory biscuits (plain and flavored crackers) and sweet biscuits (plain biscuits, cookies, sandwich biscuits, chocolate-coated biscuits, and others)
- Based on the ingredient, the market has been segmented into wheat, oats, millets, and others.
- On the basis of the packaging type, the market has been classified into pouches/packets, jars, boxes, and others.
- Based on the distribution channel, the market has been segregated into supermarkets and hypermarkets, convenience stores, independent bakeries, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Bahlsen GmbH & Co. KG, Britannia Industries Limited, Burton’s Biscuit Company, ITC Limited, Kellogg Company, Lotus Bakeries Corporate, Mondelez International Inc., Nestlé S.A., Parle Products Private Limited, Pladis Global and Walker’s Shortbread.
|Base Year of the Analysis
||Product Type, Ingredient, Packaging Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bahlsen GmbH & Co. KG, Britannia Industries Limited, Burton's Biscuit Company, ITC Limited, Kellogg Company, Lotus Bakeries Corporate, Mondelez International Inc., Nestlé S.A., Parle Products Private Limited, Pladis Global and Walker's Shortbread.
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